Great new for buyers in Chicago and surrounding suburbs – 100% financing Jumbo mortgage options are now available for qualified home buyers around the city. The details of this no money down program are listed below. Please keep in mind that this program is only available in Cook County, DuPage, Kane, Lake, McHenry, and Will County. This is great for first time home buyers, Doctors, and other professional seeking a NO down payment Jumbo solution.
- The 100 percent Jumbo loan is strictly for primary owner occupied homes. Investment and vacation properties are not permitted.
- The program consists of two loans 80/20. 80% first mortgage with smaller 20% second mortgage. There is no monthly PMI or mortgage insurance.
- Home buyers can choose between 30 year or 15 year fix rate loans with attractive low rates. 5/1 and 7/1 adjustable rate “ARM” terms are also available.
- Applicants will need a minimum 680 credit score to be approved. In addition, no serious financial issues in the previous 5 years.
- Applicants will be required to completely document income and assets – just like any standard loan.
- This program requires no payment reserves like traditional Jumbo loans.
- The loan amount limit for this program is $1,000,000 – please note this.
- Standard single family housing and condominiums (condos) are eligible.
Questions? Just submit the Request Contact form at the top of this page – NOTE: please select the ” Jumbo Loan – 95% ” as your loan type. Also be sure to add in the comments section of the form that you are specifically researching the 100% Jumbo loan in Chicago.
We are happy to assist 7 days a week – serving buyers in Downtown, Lake View, Highland Park, Vernon Hills, Hinsdale, Lake Forest, Downers Grove, Burr Ridge, Naperville, Winnetka, Barrington, Oak Park, West Loop, Lincoln Park, Gold Coast, Streeterville, River North, South Loop, Lincoln Square